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<br />I
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<br />MORTGAGE
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<br />84 - 002460
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<br />I, Jel'Clll:! J, Watson & Jane L. Watson , hereby give COMMERCIAL FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION (Commercial) a mortgage on the following property:
<br />
<br />r Tnt 5 Block 1 Fireside Estates 2nd 800di vision, Hall County, Nebraska,
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<br />I f more than one person signs this mortgage, the word "I" means "we".
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<br />Tt)is mortgage secures a loan made by Commercial. A note dated the same dateas,
<br />this mortgage contains the terms for repayment of that loan. If that note is evercha-rtged
<br />or replaced by a new note, it will still be secured by this mortgage.
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<br />I promise the following things:
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<br />1, All payments on any note or other debt secured by this mortgagewitl be' paid
<br />when due.
<br />2. An insurance policy for fire and extended coverage will be.. kept in force on the
<br />property in an amount at least equal to the debts secured by this mortgage plus
<br />any other mortgages listed in paragraph 6. The insurance company must be',
<br />satisfactory to Commercial, and Commercial will be a named insured on the
<br />policy.
<br />3, All taxes and assessments on the property will be paid before they become
<br />delinquent,
<br />4. No waste will be committed on the property, and it will be kept in good repair.
<br />5, The property will not be sold (including by land contract), leased, and no
<br />interest in it will be assigned in any way,
<br />6. I own the property free and clear of any other mortgages or encumbrances
<br />except: {'uIY!Prr.i a 1 F~"ra.l 8avi n= & IDan
<br />7, No other mortgage or lien on the property will e"3r be allowed to be in default
<br />or be foreclosed.
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<br />If any of these promises are not kept, then Commercial can declare all of the debt
<br />immediately due and payable without advance notice. The interest rate will increase to
<br />19,00% or any greater rate allowable by law at that time, and this mortgage can be
<br />foreclosed, If the debt is accelerated, then I also assign any rent or other income, from
<br />the property to Commercial.
<br />
<br />Certain amounts can be paid by Commercial and added to the debt secured by this
<br />mortgage. They are any taxes or insurance I have agreed to pay but fail to, any
<br />attorney fees or court expenses Commercial pays if it is made a party to any legal action
<br />brought by someone else concerning the property, and any attorney fees or court
<br />expenses which the law might allow if Commercial has to go to court against me to collect
<br />the debt or foreclose this mortgage. If any of the$e things happen, then the addition.1
<br />debt will accrue interest at the s.me rate as the rest of the debt and must be paid
<br />immediately,
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<br />If this property is ever condemned under the power of eminent domain or any similar
<br />method of taking property for public use, any proceeds of the taking will be paid to
<br />Commercial up to the full amount of the debt secured,
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<br />/;'_"~:C'<'''''-~''
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<br />May 1, 1984
<br />Date
<br />STATE OF NEBRASKA
<br />COUNTY OF HAlL
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<br />
<br />ss,
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<br />On this 1st day of May , 19 84 , before me, a notary public in
<br />and fQr said county, personally came Jerane ,J, WatSOiiT Jane L. WatS<ilnto me know to be
<br />t~ ldtrlt/cat person or persons whose name Is or names are affixed to the above mortgage,
<br />iInQ they, he or she severally acknowledged the said instrument and the execution thereof
<br />to be their voluntary a4;t and deed.
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<br />L
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<br />WI TNESS my hand and notarial seal the day and year last above written,
<br />
<br />Illy commlsalon
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<br />.L llCHAID VAN lYl
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<br />7;::,,;.1"&..1>/ (h"'kti;~~ Public
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<br />Clr27
<br />REV 4/82
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